Hexanol Price Trend and Forecast

Hexanol Regional Price Overview

Get the latest insights on price movement and trend analysis of Hexanol in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Hexanol Price Trend for the Second Half of 2024

Asia

In the Asia-Pacific region, the market witnessed a sharp bearish trend during the latter half of 2024. High production rates from key manufacturers like Formosa Plastics and Luxi Chemical led to persistent oversupply conditions. Despite some constraints in feedstock availability, the market remained overwhelmed by excess supply.
 

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Demand weakness, particularly from the construction sector and its impact on paints and coatings industries, contributed to historically low-price levels in the region.

Europe

The European market experienced a dramatic downturn in the second half of 2024, with Germany serving as a focal point for regional price trends. The market was characterized by oversupply conditions as major manufacturers returned to full production capacity. While temporary shutdowns during the summer maintenance period provided brief support to prices, the market ultimately couldn't sustain stability. The influx of supplies from increased production capabilities, coupled with weak demand from construction and plasticizer sectors, led to significant price erosion. The situation was further complicated by cheaper imports from other regions and reduced production costs due to lower feedstock prices.

North America

In North America, the market faced considerable headwinds during the latter half of 2024. The third quarter was particularly challenging, marked by notable price declines due to multiple factors. Hurricane season disruptions affected production facilities, while weak demand from key end-use sectors like construction and automotive contributed to the downward pressure. Despite attempts by major producers to implement price increases, the market remained bearish. Supply chain complications, including disruptions from longshoremen strikes, further weakened market sentiment and contributed to the overall negative pricing trend.

Analyst Insight

According to Procurement Resource, the global Hexanol market was expected to remain under pressure in the near term, with any recovery largely dependent on improvement in downstream demand and better supply-demand balance across regions.
 

Hexanol Price Trend for the First Half of 2024

Asia

The price trend of hexanol in Asia during H1 2024 was primarily influenced by the market dynamics of its feedstock, ethylene. Ethylene prices in Asia remained stable and somewhat optimistic during the first half of 2024, supported by steady demand from downstream sectors such as plastics and chemicals. This recovery in manufacturing and transportation amid deflated energy prices provided favorable conditions for ethylene, which indirectly impacted hexanol prices.

As ethylene prices stabilized in Q1 due to increased restocking activities for the Lunar New Year, there was a resultant positive sentiment in the hexanol market as well. This was particularly evident in the first quarter, where demand from industries such as coatings, solvents, and plasticizers remained steady, leading to moderate price increases. During Q2, the firm stability of ethylene prices, even amidst fluctuations in crude oil prices, helped maintain a positive market outlook for hexanol. Hexanol prices were stable with slight upward movements due to consistent demand from end-use industries, reflecting the general optimism of the ethylene market in Asia.

Europe

In Europe, the hexanol market faced a more mixed trend during H1 2024, largely influenced by the volatile nature of ethylene prices. Ethylene prices ended Q1 on a softer note, impacted by high upstream costs, energy prices, and geopolitical tensions. This subdued sentiment transferred to the hexanol market, where demand was modest due to uncertain market conditions and supply concerns.

Hexanol prices in Europe experienced a dip in Q1 due to weaker derivative orders and muted demand from key sectors, particularly from the polyethylene industry in Germany. Moving into Q2, as the ethylene market began to stabilize with normalization in crude oil prices, the hexanol market also saw a partial recovery. However, overall market performance remained moderate to mixed, reflecting the unsettled nature of ethylene prices. While there were slight gains in demand for hexanol towards the end of Q2, the earlier bearish market conditions capped any significant price surges.
North America

In North America, the price trend of hexanol during H1 2024 was similarly shaped by the uncertain dynamics of the ethylene market. In Q1, ethylene prices saw an initial rise due to reduced inventory pressure and improved consumer confidence. This resulted in a brief increase in hexanol prices, supported by a short-term boost in demand from sectors such as adhesives, coatings, and plasticizers. However, as the quarter progressed, the market outlook became less favorable. Rising production costs for ethylene, driven by higher crude oil and feedstock prices, dampened market sentiments.

Consequently, hexanol prices began to flatten out, reflecting reduced trading activity and declining profit margins for traders and manufacturers. During Q2, ethylene prices remained largely mixed, which was mirrored in the hexanol market. Despite some upticks towards the end of the quarter, the overall market sentiment for hexanol remained cautious, with prices fluctuating but largely maintaining a flattened trend throughout Q2 2024.

Analyst Insight

According to Procurement Resource, the price trend of Hexanol is expected to inch higher in the next quarter with rising consumer interest and soaring production costs.
 

Hexanol Price Trend for the Second Half of 2023

The dynamics of the hexanol market are influenced by its use as a solvent in sectors such as paints, coatings, and adhesives. The market trends are also driven by hexanol usage in the manufacturing of flavoring agents for food products and plasticizers for PVC compounds.

Demand swings are also influenced by its use in medicines, insecticides, and fragrances. Hexanol is an industrially significant compound utilized in the production of a variety of chemicals. In addition to the demand and dynamics of the end user industries, its feedstock hexanol has a major share in dictating the price trend of hexanol.

In Asia, the Chinese hexanol market witnessed a gradual increase in prices driven by rising demand from the polymer and ethanol industries. However, a reverse trend was observed in India despite significant improvements in the neighboring countries. In India, oversupplied hexanol inventories led to swift price regression over the last six months of 2023.

In Europe, hexanol prices declined due to weak demand from downstream industries despite high feedstock prices, resulting in tepid market sentiments. Similarly, in North America, mixed sentiments prevailed, largely leaning toward the lower end of the spectrum. Dull demands and disruptions in the industrial supply chain and ocean freight contributed to weakening hexanol price trends during the period.

Analyst Insight

According to Procurement Resource, the price trend of Hexanol is estimated to oscillate on the upper end of the spectra as the demand from the downstream industries seems healthy, and even the cost support from the feedstock market seems effective.

Procurement Resource provides latest prices of Hexanol. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.